The Mobility Open Blockchain Initiative (MOBI) has launched a global standard for integrating blockchain technology into a decentralized auto shipping network.

Storage of excess energy generated by wind or solar energy is a major problem for the renewable energy industry, as batteries are very expensive. But electric cars already have large storage capacity, so a lot of work has been done to connect them to decentralized power grids to store renewable energy.

The first draft of the MOBI Electric Vehicle Integration Working Group (EVGI) Working Group specification seeks to lay the foundations for decentralized shipping networks that better utilize surplus green energy by detailing systems for “vehicle network integration”, “prestigious carbon credits” and “peer-to-peer-applications. “.

The founder and director of operations at MOBI, Tram Vu, said the standard would benefit companies that represent “all aspects of the electric vehicle and the freight ecosystem,” saying:

“Electric vehicles, chargers, and power producers can have a protected identity, communicate using a standard message format and automatically record transactions such as charging, generation, and exchange in the distributed ledger.”
The EVGI standard is independent of the chain and seeks to ensure that “the correct data characteristics and functionality for each benefit case are available for organizations to use when building their own applications.”

The EVGI Working Group was launched in May, with the two flagship auto companies Honda and General Motors (GM) as leaders of the organization. Distributed general ledger technology companies Accenture, IBM, IOTA Foundation and R3 are also prominent members of the group.

Christian Kebel, Senior Project Engineer at Honda Research and Development in Europe, highlighted the “tremendous transformation” the power sector is currently experiencing from “centralized power generation in large power plants to more distributed and unstable power generation”:

“Decentralization and the concept of direct P2P interaction should be a key factor in capitalizing on this new market and creating meaningful tools for energy-efficient end customers.
Green energy is increasingly becoming an important front for blockchain technology, and last week Ripple and Energy Web Corporation announced the Energy Web Zero Protocol to de-carbonize distributed management networks.

Source: CoinTelegraph